Economy

Yen Bai establishes 101 new cooperatives

  •  Thursday, December 14, 2023

YBO - Yen Bai province has established 101 new cooperatives and 482 cooperative groups, bringing the total number of cooperatives in the province to 729.

The total charter capital of the province's cooperatives reaches nearly 1.8 trillion VND (74.2 million USD), an increase of 22.05% compared to 2022. The average revenue of cooperatives is 2.1 billion VND, with an average profit of 450 million VND. The cooperatives have created regular jobs for 9,600 workers with an average monthly income of 5.3 million VND each, and contributed 449 billion VND to the State budget.

The Provincial Cooperative Alliance has set a target of establishing 80 new cooperatives and 300 cooperative groups in 2024 with all newly established cooperatives operating according to the provisions of the Cooperative Law.

Besides, at least 25% of the members working in cooperative management positions hold college and bachelor degrees or higher. The average income of each member and worker in the cooperative is expected to increase to 63 million VND a year while each of those working in cooperative group will earn 45 million VND a year.

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Yen Bai's potential for exporting to the Halal market

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The global Halal market is valued at approximately USD 5 trillion annually, with a strong demand for cinnamon and tea products. This presents significant export opportunities for Yen Bai Province.

Yen Bai City exceeds vocational training targets by 15%

Students of Yen Bai Vocational College during an electronics practice session.

In 2024, Yen Bai City achieved vocational training for 2,259 individuals, exceeding the target of 1,790 by 115%. Of this total, 578 people were trained at the college level, achieving 125% of the assigned target of 461.

Yen Bai achieves 100% of communes with paved roads leading to their centers.

Workers at the construction site of the road connecting National Highway 32 with Provincial Road 174.

To date, 100% of communes in Yen Bai have roads leading to their centers that are either asphalted or concreted, and 95.5% of villages have paved roads connecting to their centers.

Yen Bai has four district-level units recognized as meeting the New Rural Standards (NTM)

By November 2024, Yen Bai had 111/150 communes certified as meeting New Rural Standards (NTM), 254 villages and four district-level units were certified as achieving NTM status.

The province also boasts 111 out of 150 communes certified as NTM, 37 communes as advanced NTM, and 11 as model NTM communes in November, 2024. Additionally, 254 villages and four district-level units have been recognized as model NTM villages.

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